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the fiscal cliff, lawmakers are pointing fingers and playing the blame game. >> mario monti is saying he's available to lead italy. he'll run for office in the upcoming election, but only for a party willing to push his agenda. >>> but he has competition in the form of sylvia berlusconi. he tells cnbc he feels a responsibility to run. >> feel the need to return to the political arena to prevent the country from being delivered into the hands of a leftist party. >> and the crowds are out, the stores are ringing up those sales, but u.s. shoppers may be running low on holiday spirit. and analysts say that they're spending less, as well. hi, everybody. welcome. merry christmas out there. thank you for joining us here on the show. what we're looking at today, we've got slightly quiet markets ahead of the u.s. open. what we're seeing, though, that all the markets are being called lower across the board stateside. the dow is being called a bit lower, nasdaq is being called a bit lower and the s&p 500 being called down by a bybit, as well. we saw markets coming off on friday stateside. pretty si
monti intends to resign. berlusconi hopes to stage a comeback. >> stormy political weather ahead for italy. suddenly, mario monti is on the way out. there will be early elections and berlusconi is reaching for power again. on the markets, there is deep unease. they're like the austerity measures and the reforms of the technocrats, mr. monti. they fear the return of politics as usual in italy. even if berlusconi is far behind in the polls, the very idea his attempt at come back has jangled nerves. >> the markets are shocked at the prospect that berlusconi would become prime minister again. he is responsible for the crisis in italy. he should enjoy his pension. the reforms have to go on. >> in this from the marketplace, there is not much enthusiasm for a return of mr. berlusconi. >> we italians need to worry, not because of the current crisis. more because this idiot berlusconi is around. i hope it's a good smashed in the face. -- i hope he gets a good smash in the face. >> but berlusconi is a formidable campaigner. he will tell people that he will ease their economic agony. he wil
. berlusconi says spreads, this is really just a scam. monty says we should care about spreads. want to bring in a third opinion. let's talk about bepo grillo, founder of the five-star movement. not a political party but a movement which benefits from voters' disenchantment with mr. berlusconi and mr. monty. he agrees with mr. berlusconi on one thing. he says spreads are all just based on speculation. >> translator: the spread is completely detached from the real economy. the spread is mental hallucination created by speculation in the banking sector because half of the italian debt is owned by foreign banks. these banks try to get high rate in order to earn more. so we are a victim of banking speculation, of both foreign and domestic banks. we shall detach from the real economy. we need to stop this vicious cycle of debt that is strangling us. >> reporter: many would argue it's the right time for mario monty to leave the political scene. would you agree? >> translator: he needs to disappear. he was, as the americans say, a bluff, a bubble, a bankruptcy curator. our country went bankrupt last
monti govern. the xetra dax is lower this morning. the ftse 100, too, down about 0.2% respectively. take a look at the bond curve. spain, this will be a good proxy for now. we'll get the ten year for italy in just a second. 35.34% is the level there. u.s. benefiting from fund flows well. choppy trade across the picture here. let's look at the italian curve before we get the results later today. we are seeing green across the board, so yields dipping before that probably has more to do with the political rhetoric we're seeing especially coming from berlusconi. under 4.6% for the ten-year and on the short and two, a bit of a rally. finally, let's close taking a look at the forex. euro/dollar is weaker. and it's holding just above 1.30. and the dollar/yen, this is the one sixuan mentioned to watch. heading into japanese elections, stocks outperform adding oots .1% to 83.35 this morning. >>> south korea's central bank may be worried about factors in the economy, but the dok says the economy is stronger than it used to be. more on that next. can i help you? i heard you guys can ship ground fo
minister mario monti, yes, the same one that is famous from all the anti-trust things back in the -- was that the '90s? >> the '90s, yeah. >> monti announcing he'll step down before his term ends. the decision comes after the party of sylvia berlusconi withdrew support for monti's government last week. berlusconi has indicated he will run for leadership again. cnbc's carolin roth will join us from italy with the latest in a few minutes. when i was over there, i had to have the -- all the political signs translated because there's a picture of monti sitting under a beach chair drinking a drink and all the text was send monti to the beach. they already didn't like him. >> he had very high disapproval ratings. i remember last summer i had seen that somewhere. >> they want to send him to the beach. the major european averages at this hour, there they, they're all down. not great in france, but germany down about .7% and the ftse down fractionally. other news out of europe, debt tieback for from an day to receive additional buyback offers. those would be at deeply discounted pri
to drive on. monday, monty, the giant schnauzer, got behind the wheel of a modified mini, started the car, and drove it with his paw on the wheel. this freaks me out. it's believed to be a world first. after driving 230 feet, he hit the break. it took two months of intense training to teach monty how to drive. this is the morning news. . you need a little help there ♪ ♪ ooh baby, can i do for you today? ♪ [ female announcer ] need help keeping your digestive balance? align can help. only align has bifantis, a patented probiotic that naturally helps maintain your digestive balance. try align to help retain a balanced digestive system. try the #1 gastroenterologist recommended probiotic. align. [ male announcer ] with free package pickup from the u.s. postal service the holidays are easy. visit usps.com. pay, print, and have it picked up for free before december 20h for delivery in time for the holidays. you can even give us special instructions on where to find it. free package pickup. from the u.s. postal service. because it's nice to have an extra pair of hands around for the holid
at a weaker pace. the planned resignation of italian prime minister mario monti weighing on the european markets this morning. he said he will step down as soon as the 2013 budget is approved. that's because berlusconi. it's been said a couple things this morning, that italy is now the problem child in europe, more than greece, more than spain. but conversely, china, if gdp is coming back, they are in what many consider to be a sweet spot. >> the numbers came out saturday for china. i think italy has been remarkably good. so this was a big game changer. italy had been a part of the good story of european recovery. now it's back. >> all to monti was never intended to be there for the long term. >> sure. >> in fact, he may be leaving a month earlier than originally planned. this should not be a surprise in the larger context. while we may mention berlusconi's name right now, he's not expected to win. >> look, we knew that monti was successful. >> it may be whoever follows him is going to roll some of the gains that he's had. so-called gains. >> that's going to cause ripples here. look, on
are not making this up. you really can't. the dog named monty is one of three dogs that were taught to drive using special commands and controllers alongside their trainer. yesterday monte took his first solo ride. it was live on television. congratulations. thank you for the fantastic video. >>> well, here's a look at your first news going on around america today. we're going to begin with the life and death struggle. it was all caught on tape. staring down the barrel of a shotgun. a florida man fought off a gunman's robbery attempt. he and co-workers pounded the suspect until police arrived. >>> next to new york city where police are hunting the criminal responsible for this vicious attack on an 85-year-old woman right inside the elevator. the suspect snatched her purse and wedding ring. the victim, whose husband is terminally ill, begged for the ring but was ignored. >>> a twister tore through the sunshine state leaving about 40 homeowners with severe property damage. so far central florida officials have recorded down power lines and trees, as well as scattered debris along roadways. >>>
might hear from aaron monti as to whether he intends to run as a candidate, although he's going to step aside as sort of the incumbent prime minister. ten-year spanish yields, slightly allow at 1.372%. we go to 84.48, the lowest against the dollar since april 20111. euro/dollar, 1.3159. kind of where we were at new york levels. that's where we stand right now in this european session. let's recap the trading week so far in asia. deidre has more for us in singapore. dei. >> ross, you were just talking about the yen. let me start there. it did hit a 20-month low against the u.s. dollar. that helped out u.s. equities. they hit an 8 1/2 month high after shinzo abe won the election. japanese equities, they moved inversely. the korean won is strengthening against the yen and this is putting it head to head with some of the japanese carmakers. it's causing concern about the korean carmakers because their vehicle res now becoming more expensive. so we did see some weakness there. moving on the tote greater chinese markets, the shanghai comp continued to gain. it has been on quite the rally thro
cliff. >>> the outgoing prime minister mario monti said he will contest the general election in february. he will lead a coalition of supporting his reform agenda. his appointment last year as the head of the technocratic government sought to end the financial crisis. former prime minister silvio berlusconi is rounding out his new year with a divorce, pinning his ex-wife almost $4 million per month. he was accused of having relationships with young women. the venezuelan president hugo chavez cents a message of faith to his supporters from his hospital bed. the message said that well- wishers and supporters were helping his recovery following the cancer operation. there is been speculation over whether his health has left him fit to lead the country. >>> a 6-year-old british girl who was abducted by her father and to pakistan three years ago has been reunited with her mother in the u.k. in the past couple of hours she arrived at manchester airport. she was taken from her home in greater manchester on her third birthday, found with the help of the pakistani authorities and is understood to
to be imploding. >> i'm proud of the campaign mitt romney and i ran. >> he looked less like monty hall and more like monty burns because he wants to inflict pain on the republican. >> the implosion is going to happen very, very slowly, day, by day, by day. >> i'm proud of our party. and i'm proud of mitt romney. >> it seems right here. >> we've seen some movement over the last several days amongst some republicans. >> we can probably solve this in about a week. it's not that tough. >> the next 72 hours are critical. >> today's wednesday and the house is going to leave today. ♪ surrender surrender but don't give yourself away away ♪ >> in case you needed reminding, it's 21 days to christmas, but just 27 days to the fiscal cliff. the president is john boehner are facing off for what couldçe a down to the wire nail-biter of a fiscal fight. indeed, the stakes are so high, the pressure so intense, that the house is calling it quits for the week. giving themselves another much deserved break. of course, not before demanding action from the president. >> where are the specifics? where are the di
. ira, here we go. you know, monty hall, a big game show guy. now we have mario monty hall in the game of politics. can you try to explain to viewers and listeners? you know, no, i don't want to lose but i'd still take the job. tell me about it. >> he wants to be -- he wants to run the show and, you know what? when you saw berlusconi kind of backed off and actually support him now so it's like they're going to parachute him back in. he won't run and he says i don't have to because he is a life senator whatever that means but italy has its own laws as you know, probably as well as anybody. but he wants -- he'd like to continue to run the show because he feels just like mario draghi that he's been very successful and he can't let go of the reins. now i understand that. but he doesn't want to run. >> he's been very successful and he tells us about that. >> right. >> he had his july 26th surprise between him and mario draghi but in the end as you pointed out off camera he doesn't want to lose. he's not going through the process in a way where he can lose. basically if you appoint me i'll t
monti announcing he would consider seeking a second term as italian prime minister if approached by allies that are committed to actually backing his reforms. michelle caruso-cabrera joins us on set. you can see that andrew was taking some shots. >> a new camera. >> i'm so used to it wherever i go. andrew, we've got the fire behind you. >> it's summer cute. >> the sweater. >> yeah. >> but it's an orange -- i don't understand why it's orange. it's hal weeb. >> it's a red sweater. >> look at it. i know it's coming a little bit orangey. >> on tv. >> okay. >> lovely. thank you. love the guys in the control room. >> so here's italy. silvio berlusconi. your intro was about mario monti which is all true. silvio berlusconi, the former prime minister of italy -- >> my favorite. >> thank goodness for silvio berlusconi. >> look at his hair. what is he, 76? >> 76. he just sat down with cnbc italy over the weekend. silvio berlusconi says he does not want to run for prime minister, but, he is obligated to, because the country needs him so desperately. he is the only one that can bring together
an appreciative audience in rome he'll denounce the policies of his successor, mario monti, and his management of the current economic crisis. after decades in italian politics, this 76-year-old businessman appears rested and ready for a fight. tan and fit not and a gray hair on his head. he's not without troubles of his own. he's appeals a kwixz for tax evasion and on trial for allegedly having sex with a minor, a now of age moroccan dancer known as ruby, the heartbreaker. belusconi is in and monti will soon be out. he's step down as soon as parliament passes its 2013 budget. stepping down doesn't mean he's stepping out. many here speculate he's simply preparing to take off his mental and don that of a politician and run himself for the premiership in elections early next year. monti's policies of tax increases and spending cuts have sparked widespread protests, but many other italians think such tough measures were unavoidable says this professor. >> while there is concern, while there is resentment, while there is worry about future, i think there is a rather widespread agreement that what
for him to stay on, prime minister mario monti has said once the budget is passed, he will resign. 61% of italians are against him running for a second turn. meanwhile, sylvia berlusconi promised yesterday if he's voted back in, he'll reverse some of monti's policies. >>> in tokyo, the newly elected prime minister is meeting with the head of the central bank. also, we'll head out to frankfurt where do you have ya mark may have dodged another bullet. >>> then it's over to hong kong. aig sells its remaining stake in aia and formally ends a partnership dating back 100 years. all of that straight ahead. i always wait until the last minute. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express ecember 22nd for christmas delivery. >>> the latest numbers out of china, in the first 11 months, foreign investments led. investment from the u.s. did pick up. . on the equity front, the shanghai composite has been powering ahead up over 9% just this month. with external factors im
tighter and exact spaces for some time. >> reporter: d.c. developer monty hoffman will soon be offering 100 compact apartments, 350 square feet a piece, on the city's southwest waterfront. he says the housing market is being driven by a new generation of buyers whose priorities have changed. >> they're more about experience than material things. they like their space but they like the street theater. the street, the cafes, those omcome our living room. housubois: for the tiny house lighbors, their living rooms will include a breathtaking view. >> we're worried about zombies creeping in a few times a year. the full moons are a bit frightening. >> reporter: washington housing codes don't yet allow people to live in the homes full time so for now, the group says, it's a showcase, a microscopic model of their american dream. >> i think people are starting to understand, you know, lower cost, affordable housing can be- - can be very livable. and maybe we don't need the big mcmansions that we've been living in. >> dubois: and just because they're small doesn't mean they're necessarily cheap.
's happening with italian politics. of course, mario monti saying he was going to resign as italy's prime minister. that paves the way for flesh elections to be called in the beginning of next year. yesterday, we saw the negative reaction. sylvia berlusconi wants to make his return on the political scene. today, we saw a bounce back. if you can see see bind me, the bank stocks in italy rerebound, but it's only in the range of .5% to 1% of these names which were down in some cases nearly 10% yesterday. if you take a quick look at european bourses, if that's possible, down near the ftse mib, this is the one selling off somewhere in the range of 3.5% yesterday. today it's adding about .8%. in spain, showing a nice rebound. same attitude listing peripheral debt. we can take a look there. italy and spain seeing prices rise, yields falling to 4.75% and 5.75% respectively. is investor attention returning to spain? here is the thing. italy is the third biggest government debt market in the world. it's the third biggest economy in the eurozone. whatever happens with its political situation could p
to the military begins with her own family. her stepson sergeant monty buchanan is about to be deplo d deployed. "the hurt locker" guys, there's a bomb? i'll be taking care of that. >> her, he was blown up in an ied explosion in afghanistan, and was sent home. >> here's robert. >> reporter: last year when an episode of "days of our lives" featured returning wounded warriors, one of them was sergeant robert buchanan. >> do my 20-plus years. >> it's shellshock, post-traumatic stress. he was a surfer, california boy, and tipped, so would it be good to be out there and being -- he said, i can't go near the sand. say no more. >> reporter: the u.s. marine corps flag proudly flies yao side of sherman compton. >> you were injured in every single deployment. >> yeah, i had to learn to walk straight again, to learn how to read again, i still have mental problems, extreme headaches. >> reporter: but watson is now a full-time college student. he credited the wounded warrior project for helping him and a woman he's never met. >> thank you, deidra, for everything usual doing. >> reporter: back when she learn
a matter of a group of behaviors that are put into a sequence. three dogs, monty, jimmy and porter, are among those now allowed behind the wheel. with their trainer's help, they get into the driver's seat and take off. >> there are not enough treats, if the driver's seat is on the wrong side. i think he's using a stick shift, too. that's talent. >> at least he's not texting. >> exactly. >> it may be cute, but can dogs get a license to drive? >> maybe in some countries. in dogville, sure, anything can happen. >> maybe it's not an issue for some. >> but the weather is, special sli when we're approaching the weekend. >> we've got a couple of hiccups in our forecast for the weekend. yesterday was looking dry. today, now, we're talking about a weather front that will stall over our area. what that will do is provide us with a whole lot of clouds and even showers from time to time, this upcoming weekend. first, though, let's focus on the cold. a gorgeous sunset right now. we've got temperatures out there still holding in the mid and upper 50s. still several degrees above average for toda
on wall street. but investors were cautioning. and italy's prime minister, mario monty, resigned. wall street is expecting the worst bonus season since the financial crisis of 2008. the average bonus will decline 16 1/2% from last year, to just over $100,000. and about one in five wall street workers won't get a bonus at all, as banks and investment firms continue to struggle in a tough economy. sales at mcdonald's rose in november, as u.s. brought more breakfast items and its new cheddar bacon onion sandwiches. drivers are getting some relief at the gas pump. according to the lundberg survey, a gallon of regular unleaded costs average. $3.46 nationwide. and retailers are acquiring holiday help in record numbers. retailers a added, 465,500 seasonal workers in november as they wrap up for the holidays. that's barely surpasses a previous record set in 2005, just before the financial crisis. that's your money watch. for more, head to cbs money watch.com. >>> a bald eagle is going to be okay, thanks to the quick thinking of two fort myers resident
in italy. >> it's an all-italian version of the european close right now, carl. mario monti, contrary to reports last week that he did not want to run for prime minister again, we now hear he's undecided, and may actually run for p.m. of the country. right now he serves technocratically. there's expected to be an election early next year, maybe in february or in march. he has told reporters that he's considering it. the cabinet member he spoke with earlier in the week said he's going to make an announcement sometime this week on television. when asked by reporters about his recent visit to the tomb of saint francis he said he did, indeed, pray there to help him make a decision about whether or not to run. a man eagerly awaiting monti's decision is silvio berlusconi, the former prime minister of italy. we're pretty sure he has not prayed at the tomb of st. francis lately. he has said that he devil wants to be run for prime minister again however at the same time he's also made noises that suggest that he wouldn't run if monti runs. that's not set in stone. we're going to see what happe
's monty python is what that was. come on now. >>> as we count down the days to christmas, santa is going through thousands of letters trying to fill as many wishes as he, can but santa can't get to every letter. >> that's right. that's why the u.s. postal service runs operation santa where it asks you to help the big guy out. you can adopt a child or family and help make this a merry christmas for them. over the next three weeks we'll be sharing portions from some of those letters from our area such as this one. >> dear santa, i'm writing to you because i'm a single mother of three. i lost my job in august after working as a government contractor for the last eight years. we have lost our place and right now my income is very low. so i'm writing to you, is an that, just to ask if you can please bring my kids something for christmas. fyi, we stay with my aunt. if you would like to help families like this, pick up a letter from the main post office on brentwood road in northwest d.c. they'll have all the information you need to help make this a christmas local families can remember. >> som
. >> how many days, if you add headline that monty was thinking about, going out and bursceloni was thinking about coming back. follow me on twitter. and "power lunch" begins right now. >> halftime is over. "power lunch" and second half of the trading day starts right now. >> and here we are. welcome to "power lunch." as you can see, we are beth here on the floor of the new york stock exchange. and stocks are higher as fiscal cliff song and dance continues in washington. mr. boehner says he is waiting for a proposal from this gentleman, the president. president obama. and the president is set to speak about the cliff and the a economy later today. >> i thought i was supposed to come here today. you thought you were supposed to come here today. so we are both here. not really, folks. a lot of talk today is about what investors should do if we go over the cliff. what should we do if there is a debt deal before year-end or shortly thereafter. we have smart strategies and individual stock picks for you this hour. >> that's right. well also take a look at another side of google that
and private businesses. back to the phones. monty is calling on the line for independents from mississippi. go ahead. caller: you pretty much just answered all of my questions. i was asking about the staff members. the only question you did not answer was where does the money come from? guest: i can answer that one. it comes from taxpayer dollars. it comes from the treasury. people do not realize comparatively speaking how little we spend. it is about 1.5% of the total budget that goes to the legislative branch. that includes the capitol police, the congressional research service, the library of congress, and the accounting office. it is a small percentage. this is a hard-working workforce. we are coming out with a steady -- study. in march, we will release a report that shows members of the house of representatives to work on average 70 hours of week. it is pretty good bang for your buck. host: ron is up next on the line for democrats. caller: who brings the newbies up to speed? the 31% are obscure in our consideration that more taxes are being laid on people. war is taken away from the -- mo
and withdrawing support from mario monti. this may lead to midterm elections because monti is market friendly you might not end up with a market friendly solution. we thought we'd have elections march/april, there's the prospect it could be a snap election much earlier perhaps in the new year. now the good news is there isn't a huge amount of blowout on the bonds at the short end of the italian markets. the yields are higher but not huge relative to where we've been but on the ten-year italian market you can see we're slightly higher but no great shakes overall. it means the rally in the peripheral bond market we've witnessed in italy and spain has now stalled at this stage. remember we had the auction in spain yesterday and the yields are slightly higher relative to where we've been, they're still relatively depressed. we talk about the problems in europe, i thought it was worth pointing out amidst all the malaise what is happening in germany today an astounding manufacturing german manufacturing orders result from germany up 3.9% in october, a phenomenal performance from german industry and it'
-- he's less monty hall, more monti burns to extract pain on the republicans. >> stephanie: so the issue that he ran and won on -- >> well, i think what's so frustrating for republicans is the last time we had some of these dopey countdown to the clock of armageddon was with the debt deal. and republicans were in a much stronger position for better or for worse just because they were willing to you know, blow up the whole debt deal, et cetera. so i think you know, they wish it was like that. they wished -- when that unfolded, obama was taking hit after hit. he did not have the leverage. he obviously hadn't just won an election. his approval ratings were going in the tank. so they're upset that this isn't a rerun. they're upset that obama seems to be holding a lot of the cards. they're upset the republicans seem weak and boehner is divided and the republican party. so a lot of this complaint like we heard from ducey is him saying boy we want the debt deal again. we want it where obama was on the run and taking hi
a possible successor if his health declines. >> premiere monti said he plans to resign following the sudden loss and support from the party of berlusconi paving the way for early elections a year after he pulled the country back from the brink of disaster. >> a massive search-and-rescue effort in the philippines with 900 fishermen missing after a typhoon struck. >> new fallout to the growing political conflict in egypt. egyptians in egypt are flooding into the united states many live ing egypt because of the crisis and for their safety. and now, live in los angeles. dominic, what sort of scale is this wave of asylum seekers? >> napolitano at homeland security says we are seeing a doubling of seekers since the muslim brotherhood took power and 100,000 egyptians have turned up according to unofficial figures. it is mostly the coptic christians and we understand, as well, that new constitution does so little to protect minority rights including christians there and this is an attempt by the islamist to wipe out what remains, really, of the christian community in cairo. take a listen. >> christ
because spending cuts are not working out for italy's government. prime minister mario monti announced he would resign after losing support over his austerity moves. a return of political instability there reminds us that europe still faces a lot of hurdles before it comes out of its economic crisis. countries like greece, spain and italy have been tackling their problems with sharp cuts in spending and higher taxes and that's been fueling recession and unrest. meanwhile, we now know that japan officially slipped into its own recession over the summer with the japanese economy contracting 3.5% between july and september. now, the previous quarter, the previous three months number was also revised lower and that makes for two consecutive quarters of negative growth and that's the classic definition of a recession. from asia, back to america, literally, a group of chinese investors agreed today to buy an 80% stake in aig's aircraft leasing business. back in 2008, the insurance giant was bailed out by the u.s. government to the tune of $180 billion. four years on, still paying back the money
an animal trainer taught monti to drive. he looks at home behind the wheel. with modified controls he can put the car in >>> this was a landmark year for technology. brian cooley of cnet will show us their top stories of the year and they may surprise you brian says. he's joining us next on "cbs this morning." >> announcer: this portion of "cbs this morning" is sponsored by aarp, fighting to keep medicare and social security strong for generations to come. and social security strong for generations to come. ♪ [spider-man] we got this. ♪ ♪ [mom] this hero stuff is easy! ♪ that's why new dove style + care whipped cream mousse nourishes and conditions to help keep curls well defined and touchably soft. new dove style + care whipped cream mousse. better style through better care. ♪ [ female announcer ] your favorite holiday flavors are here... with some new ones to love. ♪ try new sugar free pumpkin spice... and pecan praline. the gift of great taste is just a click away. get your coupon at tastelift.coffee-mate.com. nestle. good food. good life. >>> our partners at cnet cover the
in the united states obviously with the fiscal cliff. in europe, all about mario monty, kicked off on friday when he resigned. he then said on sunday he'd work with coalition partners. on monday he laid out what he'd like his agenda to be. today, he is negotiating with other potential allies. two big questions come out. one of, what will the clash with silvio berlusconi be? he said his economy was crippled and said the right would abolish property tax rises. the second more interesting question is whether or not monty in the game means the election result in february will be a less strong coalition to enact reform, which is clearly where we hope they will go as in keeping -- trying to keep the investor sentiment going. in rome, they actually auctioned 12 euros of bills. all the politics with berlusconi not really affecting the market. yields are low, confidence still in there. some italian banks rose on the back of that. not huge moves. you can see bpms, up 2.2%. in the center of europe where it was concentrated, other banks moved higher. i'll show you those, lloyds, in the netherlands. and
of people think your dogs are brilliant. ladies and gentlemen, this is proof. you're looking at monty, ginny and porter. >> brian: real? >> steve: yes. those are dogs that are learning how to drive. what they're trying to do is changing the public's per suspicion of the intelligence of rescue dog, showing that you can teach old dogs new tricks. come get a rescue dog. who knows? maybe they'll drive you around. >> brian: i mean, your paws are warn out, you want an alternative? this is it. >> gretchen: how about all the car pooling for moms and dads? got to get your kids to socker and piano. who know as soon as maybe in the coming future the dog can drive. >> steve: one of the extraordinary things, this is taking place in new zealand. they're giving these dogs these driving lessons. they're actually going to have their official driver's test live on television. who wouldn't watch that? >> brian: these are rescue dogs that could pay the ultimate price if people don't adopt them. people are saying look, not only are they great dogs, but how intelligent they are. >> gretchen: maybe that dog could
't want to make a deal. he's less monty burns from the simpsons where he's trying to extract and exact political pain on the republicans. >> i think it's a combination of arrogance. he may be the most arrogant person who ever sat in the oval office. a combination of that and inexperience and if you put those two combinations together, you get someone who is so confident in his own point of view, his own position that he can't recognize any validity in the other person's point of view. >> steve: we've talked to a number of people who say, you know, the president could be overplaying his hands. he thinks he's got all the cards. the republicans could all stand together and jump off the cliff with him and that essentially is going to screw am his legacy for the next four years. >> well, both ronald reagan and bill clinton had strong legacies because they had strong growth in the second terms of their presidency. if barak obama has growth not much more than 2%, his legacy will be ashes. it's surprising to me that he is incapable of recognizing that and trying to put something in place that
the tone for the week here. they're down after super mario monti announced an early resignation as italian prime minister. >>> the fiscal cliff for payroll processors is not 22 days away. it's 4 days away, december 14th to be exact. millions of small businesses do their own payroll, and they're preparing now for the paychecks for the first week of january. right now they have no idea how much to hold back for social security taxes and the expiring bush tax cuts. the american payroll association urging congress to make a deal on the cliff saying, quote, a delay in legislation beyond december 14th doesn't give all businesses enough time to update and test their payroll systems for early january paychecks. >>> and in today's smart is the new rich, should you pay tuition based on which major you choose? the governor of florida rick scott considering it. a task force appointed by governor scott wants students to per sue so called s.t.e.m. majors against less in demand majors like history, philosophy, or english. the idea is to steer students to where there's the most need. liberal arts professi
enough. trainers say the first time a dog has ever driven a car solo. this is monty motoring around a track in specially modified car. looks very comfortable. just put a cd into the cd player. the trainer says he can put the garr into gear all by himself and even accelerate. a ha. jenna: better than drives we've been in on the road. we'll be [ man ] ring ring... progresso this reduced sodium soup says it mahelp lower cholesterol, how does it work? you just he to eat it as part of your heart healthy diet. step 1. eat the soup. all those veggies and beans, that's what may help lower your cholesterol and -- well that's easy [ male announcer ] progresso. you gotta taste this soup. rick: on the front lines of a battle, big labor says threatens its future, thousands of union members descending on michigan's statehouse to make their voices heard. lawmakers not backing down in the face of some tough talk. >>> also, a shocking murder in the middle of america's biggest city. ca gunman -- a gunman shoots a man dead before jumping into a getaway car and vanishing. what we're learning about the
can so they can be good citizens and function as we have. host: monty writes in on twitter. guest: it is also parental involvement. parents will call a lawyer for someone else if the school says the child has a problem. the school should not say, "it is all the parents' fault." even the best of parents can be overwhelmed. what happens when the father is not involved? sometimes kids will obsess on the video games. sometimes the best thing a parent can say is "no." if you have a child that is calling the shots and parents say they are afraid, that is not the way to raise children. you can still have mental illness as part of that child, even with the best of parents. host: congressman murphy is the co-author of a book, "overcoming passive aggression," which is published in 2005. william is up next from pennsylvania on the republican line. caller: good morning. i want to give my condolences to the 20 people that got killed. i am 67 years old. hello? i could not hear you. had two kids myself --i had two kids myself. we have to tell people how to raise their kids. i have been involved
served from. there's a whole another group of obama's but i will do more sensitive way than monty scenario in terms of what the story really comes from. it reminded me a little bit of the clinton book and what people thought because he said it. it is in clinton's convention acceptance, they ran a film, the man from hope. this little small town in southwestern arkansas, the simplicity of rural life and in fact he's from hot springs, a completely different place, much more cosmopolitan and complex with a darker side. the obama story is that people so far his coquette to want to sir and of the story of barack obama senior and his father takes place somewhere else and that's where the african section of this book will start. >> host: two final questions. we want to introduce our viewers to [inaudible] >> guest: leo you could not make out. he belongs in some kind of african john cover a novel. he is 73 years old. he walks around this menacing club. he's got a depot into a cinema and seems to know everybody in africa.
point of view on this, which is you think back to a year ago when monti gets named technocrat tick prime minister of italy, he comes out with a package two thirds tax hikes, one third tax cuts. and i remember saying do you think this will work, they're raising the v.a.t. tax and i understand italian household debt isn't that high, but they were trying to tax their way out of a massive debt problem and in fact receipts went down, consumption fell to 4.25 annualized rate and the situation got much worse. today italy has zero nominal gdp grets. and they're funding at 4.5%. that is a bad business model. spain same story. so when you bnk our package and what's been offered so are far which appears like $1.6 trillion in tax hikes against $400 billion of entitlement cuts over time, that's an even worse mix than the two-thirds/one-third european structure that really has gotten a negative reaction. >> how much is because of the mix and how much of it just this is what austerity looks like? >> is the money in capping deductions or raising marginal tax rates? it's in capping deductions. but that's
go with the resignation of mario monti. greece is higher. por sh gal is higher. spain is higher. it's a good day for -- investor sentiment.strongly it was revealed today. optimism over what the fed is going to do in the united states tomorrow. optimism there will be a deal on the fiscal cliff. you have optimism that the recapitalization of the banks is going to be delayed by another year according to the bank of italy. and you have optimism as well on mar of election promises as we now face the pros wekt of a much earlier election in italy. to that end it is fascinating. sylvia berlusconi has come out today warning about the germano center of politics. in other words, too much of a focus on what is happening from germany and the austerity inspired by angela merkel. in particular, he is drawing attention to this. which is the spread of the extra that investors demand to hold italian bonds over german bonds. i've shown this to you a couple times. over the last year it's been a mainstay of a lot of the italian business broadcasts internally. they say our bonds are currently trading so
the news of monti's resignation on monday. they've recovered from then. wanted to show the ibex 35, up .3% in spain. there was an italian debt auction that went over well. that's helping sentiment. the owner of zara, one of the strongest retailers in europe, out with sales. you see that their shares are down. even though their nine-month sales figure was up 17% year on year, they said so far in the fourth quarter that figure was slowing to something in the range of 15%. so still a strong set of figures from inbitex. if you're concerned about the consumer, but not as strong as we have seen in the past. that's what's happening in spain. i want to draw your attention -- use guys were talking about unions. here's a union story that tells something about the rebalancing in the eurozone. potentially germany. we know with the xetera dax up .3%. and almost 30% this year. investors see if the euro project hangs together, it's going to mean renation in germany. that is some wage inflation, some price inflation. the public sector union verde, powerful union, along with some others with its contract
. meanwhile, also worth mentioning that, after the sell-off we got on italian debt, where mario monti said he would resign over the weekend, today italy successfully went through an auction at the one-year level of debt. and you can see where people have viewed monday's sell-off as a huge opportunity. so the yields are heading down on the ten-year. just before i give you back to carl, i wanted to hand you a piece of research from goldman sachs. they have looked at what the eurozone crisis cost america in terms of growth. at the beginning of the year, they suggested they could knock 1% off potential gdp. and now they say they knocked three-quarters of a percent off growth here. half a percent was due to a general tightening of financial conditions. it's a very complicated set of calculations to get to that, but they have. half a percent of american growth is a result of weaker exports to europe. and the final thing that i think is very interesting. they say there's been a negligible impact on america due to what banks might be doing here. in other words, the european banks in new york, in bost
end of the bubble. right now i can kind of picture that scene in the "monty python" movie where they're like, bring out your dead. there are companies they want to ipo. companies like hilton. you have to think, 2013, six years since they were originally purchased by the private equity sponsors. probably time for them to try, at least, to get those companies out into the public markets. there are a number of them that have tried already, like toys r us. you maybe had them on the other day. >> yesterday, in fact. >> that thing is stuck. it ain't going anywhere. those are the types of things that the private equity firms want to get out in the market. >> toy was public, went private. now we talk about it going public one day again. you put that in a group along with via of names that could go if the economy is strong enough. >> my colleague and i, we talked about this. he says if the economy is really great, then maybe these things get out there. ment but a via, a low-growth business right now, purchased at the top of the market. so many of those privately backed companies that are just
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